The United Arab Emirates is one of Latvia's most important trading partners in the Arabian Gulf region, and in recent years there has been a high-level exchange of visits with a strong impetus for the development of bilateral economic cooperation between the two countries. Trade turnover between Latvia and the UAE is gradually increasing every year. In 2020, trade volumes between Latvia and the UAE increased by more than 15% compared to 2019, reaching EUR 61.59 million compared to EUR 53.23 million in 2019. The most visible success for Latvian entrepreneurs in the UAE markets is in the food sector, including beverages and snacks, machinery, and various types of mechanical engineering equipment, as well as in the field of wood processing products. Great potential for developing broad and successful cooperation exists in innovation, education, start-ups, IT, biomedicine, and other sectors.
